The President of the Republic, Daniel Chapo, announced that the American oil company ExxonMobil expects to make the final investment decision on the Rovuma LNG project, located in Cabo Delgado province, in the second half of 2026. The project is valued at around $20 billion, according to Lusa.
The announcement was made in Brussels following a meeting between the head of state and executives of the multinational company, as part of a four-day official visit to Belgium. According to Daniel Chapo, ExxonMobil reaffirmed its commitment to advancing the project, highlighting the importance of continued cooperation with the Mozambican government to ensure the decision is made within the expected timeline.
According to the President, the government recently approved two resolutions establishing multisectoral teams dedicated to the projects led by TotalEnergies and ExxonMobil, respectively. These structures aim to strengthen institutional coordination and ensure greater efficiency in managing processes related to major natural gas projects.
Daniel Chapo explained that these teams will help ensure faster resolution of technical and operational issues, contributing to maintaining investor confidence in the business environment and enabling key decisions to be reached “as quickly as possible.”
The Rovuma LNG project, led by ExxonMobil, is expected to share infrastructure with the TotalEnergies project, which is currently resuming after a nearly five-year suspension caused by security instability in Cabo Delgado province. In January, during a visit to the Afungi peninsula, the President indicated that construction of the ExxonMobil project could begin within a 12 to 18-month timeframe, highlighting progress made in improving security conditions in the region.
It should be recalled that ExxonMobil announced in November the lifting of the “force majeure” status affecting the project, a measure considered essential for moving toward the final investment decision. The suspension had been imposed following terrorist attacks in the north of the country in 2021.
Rovuma LNG is one of the largest natural gas projects in Africa and is considered strategic for Mozambique’s economy due to its potential impact on exports, revenue generation, and the attraction of foreign investment.
Source: Diário Económico
